Ongoing Weekly Staking Events

Article author
Nikola
  • Updated

Qredo’s weekly staking events allow you to earn a 10.1% APY (Annual Percentage Yield) reward. All you need to do is hold your QRDO within the Qredo Network during the staking event. Staking rewards are distributed every Monday.

Important: Staking is done on a per-wallet basis, not per account. This means that each wallet is doing its own staking.

Do I have to do anything?

In order to stake your QRDO, all you need to do is have tokens inside your QRDO wallet(s). Therefore, the QRDO you already have within the Qredo Network will be auto-staked. If you want to add tokens for staking, here’s how to do it.

When should I deposit?

The sooner you deposit QRDO to your QRDO wallet, the bigger return you’ll receive, provided you don’t withdraw it during each weekly staking event.

Can I withdraw QRDO?

You can withdraw your QRDO at any point during a staking event. However, such a withdrawal will forfeit any rewards that have accrued so far on the amount withdrawn.

During the staking event, no matter at which point you remove an amount of QRDO, that amount will not count towards your APY earnings at the end of this event.

What happens if I deposit more QRDO?

You’re encouraged to deposit more QRDO to your QRDO wallet, at any point of a staking event. The sooner you make the deposit, the more QRDO you’ll receive on the Monday after the weekly staking event.

What happens if I withdraw QRDO during the staking event and deposit it back?

Withdrawing QRDO from any QRDO wallet will forfeit any staking rewards that have accrued so far on the amount withdrawn. Depositing the same amount (or any amount) will start the staking of that amount based on the date deposited.

Keeping your QRDO inside the same QRDO wallet throughout the weekly event will land you with the biggest rewards. Don’t refrain from depositing more tokens, though.

What happens if I withdraw QRDO from one QRDO wallet and deposit it to another QRDO wallet within the same account?

If you do this, you will forfeit any staking rewards that have accrued so far on the amount withdrawn. Note that staking is done on a per-wallet basis, not per account. Doing this is the equivalent of “resetting” your staking for the said amount - you’ll receive a diminished reward at the end of the staking event, compared to having left the tokens inside the same QRDO wallet.

Example: if you keep 1,000 QRDO in your QRDO Wallet for the duration of the entire weekly staking event, you’ll earn an extra ≈1.9 QRDO on the following Monday.

Auto-Staking Returns that accrued less than 1 QRDO will not be paid.

Was this article helpful?